Sheets Smith Wealth Management Takes $417,000 Position in Nutanix (NASDAQ:NTNX)

Sheets Smith Wealth Management bought a new stake in shares of Nutanix (NASDAQ:NTNX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,980 shares of the technology company's stock, valued at approximately $417,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its stake in shares of Nutanix by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 92,253 shares of the technology company's stock worth $6,440,000 after purchasing an additional 3,137 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in shares of Nutanix by 32.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 7,114 shares of the technology company's stock valued at $497,000 after buying an additional 1,732 shares during the period. Flagship Harbor Advisors LLC lifted its position in Nutanix by 13.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 5,565 shares of the technology company's stock worth $388,000 after acquiring an additional 680 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Nutanix in the 1st quarter worth approximately $229,000. Finally, ORG Wealth Partners LLC raised its stake in shares of Nutanix by 2,535.7% during the first quarter. ORG Wealth Partners LLC now owns 12,019 shares of the technology company's stock valued at $839,000 after purchasing an additional 11,563 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Trading Down 1.1%

NASDAQ:NTNX traded down $0.85 during mid-day trading on Wednesday, hitting $73.42. The stock had a trading volume of 1,848,002 shares, compared to its average volume of 2,535,699. The company has a 50 day simple moving average of $73.69 and a 200-day simple moving average of $69.49. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of -262.21, a P/E/G ratio of 6.66 and a beta of 0.69. Nutanix has a 52 week low of $43.35 and a 52 week high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. Nutanix had a negative return on equity of 21.32% and a net margin of 0.97%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, equities research analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Northland Capmk upgraded shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 27th. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an "overweight" rating in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $92.00 target price on shares of Nutanix in a research note on Thursday, May 29th. UBS Group boosted their price target on Nutanix from $81.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Northland Securities raised Nutanix from a "market perform" rating to an "outperform" rating and increased their price target for the company from $77.00 to $97.00 in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $90.38.

Insider Activity

In other Nutanix news, CFO Rukmini Sivaraman sold 2,100 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.73, for a total value of $152,733.00. Following the completion of the sale, the chief financial officer now directly owns 209,070 shares in the company, valued at $15,205,661.10. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 61,057 shares of Nutanix stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total value of $4,823,503.00. Following the transaction, the chief executive officer now owns 497,309 shares in the company, valued at approximately $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,550,624 shares of company stock valued at $426,476,906. Company insiders own 6.80% of the company's stock.

Nutanix Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.